Art Basel takes off in Miami

Art Basel, the international contemporary art extravaganza is underway in Miami. See what the rich are spending their money on.

December 5, 2012 10:52 AM

Photo: Aaron Davidson/Getty Images for Delano Hotel

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MIAMI, FL - DECEMBER 04: A general view of atmosphere at the Art Miami + Context Art Miami VIP Preview Benefiting the Miami Art Museum at the Miami Art Museum on December 4, 2012 in Miami, Florida.

MIAMI, FL - DECEMBER 04: A general view of atmosphere at the Art Miami + Context Art Miami VIP Preview Benefiting the Miami Art Museum at the Miami Art Museum on December 4, 2012 in Miami, Florida.

Photo: Jamie McCarthy, Getty Images Miami Art Museum

MIAMI, FL - DECEMBER 04: A general view of atmosphere at the Art... Photo-3847651.53428 - Houston Chronicle

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MIAMI, FL - DECEMBER 03: Mera Rubell attends Bugatti and the Rubell Family Collection unveiling of artist Bernar Venet's Grand Sport Venet special preview at Rubell Family Collection on December 3, 2012 in Miami, Florida. less

MIAMI, FL - DECEMBER 03: Mera Rubell attends Bugatti and the Rubell Family Collection unveiling of artist Bernar Venet's Grand Sport Venet special preview at Rubell Family Collection on December 3, 2012 in ... more

MIAMI, FL - DECEMBER 03: Bugatti and the Rubell Family Collection unveiling of artist Bernar Venet's Grand Sport Venet special preview at Rubell Family Collection on December 3, 2012 in Miami, Florida.

MIAMI, FL - DECEMBER 03: Bugatti and the Rubell Family Collection unveiling of artist Bernar Venet's Grand Sport Venet special preview at Rubell Family Collection on December 3, 2012 in Miami, Florida.

MIAMI BEACH, FL - DECEMBER 04: A general view of Bombay Sapphire at the Art Basel Miami Kick Off Celebration hosted by Jay Jopling & Nick Jones at Soho Beach House on December 4, 2012 in Miami Beach, Florida.

MIAMI BEACH, FL - DECEMBER 04: A general view of Bombay Sapphire at the Art Basel Miami Kick Off Celebration hosted by Jay Jopling & Nick Jones at Soho Beach House on December 4, 2012 in Miami Beach, Florida.

MIAMI BEACH, FL - DECEMBER 04: Whitewall CEO Michael Klug, Alan Faena and Editor in Chief Katy Donoghue attend the Whitewall Magazine Party At Delano Beach Club at Delano Beach Club on December 4, 2012 in Miami Beach, Florida. less

MIAMI BEACH, FL - DECEMBER 04: Whitewall CEO Michael Klug, Alan Faena and Editor in Chief Katy Donoghue attend the Whitewall Magazine Party At Delano Beach Club at Delano Beach Club on December 4, 2012 in Miami ... more

MIAMI BEACH, FL - DECEMBER 04: A general view of atmopshere at the Art Basel Miami Kick Off Celebration hosted by Jay Jopling & Nick Jones at Soho Beach House on December 4, 2012 in Miami Beach, Florida.

MIAMI BEACH, FL - DECEMBER 04: A general view of atmopshere at the Art Basel Miami Kick Off Celebration hosted by Jay Jopling & Nick Jones at Soho Beach House on December 4, 2012 in Miami Beach, Florida.

MIAMI BEACH, FL - DECEMBER 04: A general view of atmopshere at the Art Basel Miami Kick Off Celebration hosted by Jay Jopling & Nick Jones at Soho Beach House on December 4, 2012 in Miami Beach, Florida.

MIAMI BEACH, FL - DECEMBER 04: A general view of atmopshere at the Art Basel Miami Kick Off Celebration hosted by Jay Jopling & Nick Jones at Soho Beach House on December 4, 2012 in Miami Beach, Florida.